Pengrowth has an average 66 percent working interest in over 200 project area properties with daily production expected to average between 74,000 and 76,000 boe per day in 2010.

Pengrowth raises additional equity funds through the sale of trust units and invests the proceeds to expand its oil and gas holdings and increase its reserve base. Pengrowth’s properties span the Western Canadian Sedimentary Basin in Alberta, British Columbia, Saskatchewan and offshore Nova Scotia.
 

How does Pengrowth stand apart?

High Quality Assets

Pengrowth's property portfolio is one of the strongest in the energy trust sector with a proved plus probable reserve life index of 10.6 years and a reserve base of 295 million boe at December 31, 2009. 

Value Adding Acquisitions

Pengrowth is encouraged by the quality and quantity of acquisition opportunities available in today’s marketplace and believe that this is the perfect point in the acquisition cycle to be acquiring additional assets. Pengrowth is well positioned to be able to take advantage of acquisition opportunities with $1.2 billion available on our bank lines at year end 2009.

Organic Growth

Pengrowth is committed to maintaining an optimal portfolio of low-risk development and organic growth opportunities.  A large inventory of opportunities including enhanced oil recovery, coalbed methane and oil sands have been identified to augment our conventional exploitation opportunities. 

Operational Excellence

Pengrowth is focused on continuous improvements in our safety, environmental and facility maintenance programs. Key operational areas are constantly reviewed to identify opportunities that increase productivity and improve well performance and facility reliability.

Financial Flexibility

Pengrowth’s prudent approach to the trust’s capital structure has been instrumental in our continuing financial flexibility and strength. A keen focus is placed on managing operating and administrative costs to maximize returns and position Pengrowth for future growth.

Corporate Governance

Pengrowth is diligent in its pursuit of the highest standards of corporate governance. We believe that good corporate governance is essential to effective and efficient operations and we seek to not only meet but exceed all applicable securities and regulatory guidelines where feasible.

People

A substantial part of our success can be attributed to the strength of our team members whose efforts are dedicated towards creating new opportunities and adding value on behalf of unitholders. Pengrowth’s ability to attract and retain outstanding talent, coupled with our emphasis on collaboration and teamwork, will ensure that we continue to realize value as we move forward.